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The Village is required to contribute at an actuarially determ ined rate. The required contribution for the current year and the two preceding years were: ERS PFRS 2025 $ 100,972 22,423 2024 85,037 26,247 2023 73,001 30,849 The Village's contributions made to the Systems were equal to 100 percent of the contributions required for each year. Pension Liabilities, Pension Expense, and Deferred Outflo ws of Resources and Deferred Inflows of Resources Related to Pensions - At May 31, 2025, the Village reported the following liability/(asset) for its proportionate share of the net pensio n liability/(asset) for the PFRS and ERS Systems. The net pension liability/(asset) was measured as of March 31, 2025. The total pension liability/(asset) used to calculate the net pension liabilit y/(asset) was determined by actuarial valuations as of April 1, 2024, with update procedures used to roll forward the total net pension tiability/(asset) to the measurement date, The Village’s proportion of the net pension liability/(asset) was based on projections of the Village’s long-term share of contributions to the Systems relative to the projected contributions of all participating members, actuarily determined. This information was provided by the System in reports provided to the Village . : PFRS ERS Measurement date March 31, 2025 = March 31, 2025 Net pension (asset) liability S 372,895 391,346 . Town's portion of the Plan's total Net pension liability 0.0061363% 0.0022825% For the year ended May 31, 2025, the Village recognized pension expense of $1 3,920 and $85,373 for PFRS and ERS respectively, total ing $99,293. At May 31, 2025, the Village discloses deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: 23